Aaron,
Try here
http://custom.marketwatch.com/custom...enu.asp?sy=nzx
Explanations of chart terms and calculations
V.
Printable View
Aaron,
Try here
http://custom.marketwatch.com/custom...enu.asp?sy=nzx
Explanations of chart terms and calculations
V.
The broad principles of the MSI are described in these posts :-
"Dow" thread, Page 39, post #578
"AllOrds" thread, Page 1, post #1
"Bottom or Bear Rally?" thread, Page 49, post #723
"Bottom or Bear Rally?" thread, Page 66, post #982
In short, the MSI is a composite indicator, combining signals from multiple conventional technical indicators such as Relative Strength Index, Stochastic oscillator, Moving averages, Directional Movement Indicator, etc, and using "all" time periods for each indicator. The actual calculations involved are complex and utilise hundreds of lines of MetaStock code.
With the Market Strength Indicator at very weak levels, the Index is still Bearish.
http://i602.photobucket.com/albums/t...PB/NZSX619.gif
With its colour coded price plot the MSI composite indicator is an interesting concept, but the signals it gives are no better than those from the individual conventional indicators that comprise it.
This chart shows 6 readily available alternative indicators that you all have access to. You can see that their signals are, to all intents and purposes, identical to those derived from the MSI composite indicator.
ANY of these indicators would have got you out of the market well before the 2008 crash gathered momentum. More importantly, they KEPT you out of the market as the inexorable slide continued for over a year. All of these indicators got you back into the market just a few weeks after it bottomed out and prices were rising again. (I'm sure you all realise that NO system will EVER get you in at the bottom. No-one rings a bell there and it is only evident in retrospect.)
Each and every one of the 6 indicators shown here could easily be used to control the colour-coding of the price plot. The results would be almost indistinguishable from the MSI colour coding that you see here.
The sole advantage of the MSI is that no time period or any other parameter input is required. This very effectively puts paid to the the usual "it's all done with hindsight" criticism that ST's resident technophobes wheel out from time to time. The same absence of input is also a disadvantage, in that the MSI sensitivity cannot be altered should you want it to be more (or less) active with any given stock or Index.
One quick question about your MSI - why do you have the strong/weak levels on your indicator at ±0.6? For an indicator that does not require any parameter inputs, it seems like a rather arbitrary decision. Setting it at ±0.5 or ±0.7 would give (slightly) different results wouldn't it.
Is it convenient that +0.6 is the highest the indicator got during the 2008 bear market? If the threshold was set lower, say ±0.5, we would have been back in the market briefly in August/September 08. Wouldn't have been a big loss but also wouldn't have kept you fully out of the market during the crash like you claim.
Phaedrus describes his MSI as a composite indicator, this means it is created by combining indicators A, B and C to create a new super indicator D. I don't think he has released the exact details of how he constructed the indicator, but there is plenty of info on the net if you want to try something yourself.
I do however recommend you exercise caution before jumping in and trying something like this out for you self. These sorts of composite indicators are prone to problems such as overfitting and the curse of dimensionality etc.
That said, the MSI still provides a novel approach to determining market sentiment and I appreciate its nifty colour coding scheme!
It is an indicator that I created CJ, and as such is only seen here on ST. It is a composite indicator, combining signals from multiple conventional technical indicators such as Relative Strength Index, Stochastic oscillator, Moving averages, Directional Movement Indicator, etc, and using "all" time periods for each indicator. These multiple results for each indicator are combined into a single "score", and "scores" from all indicators are then further combined to provide the final MSI level, ranging from -1 to + 1 with zero being exactly neutral. The actual calculations involved are complex and necessitate the use of hundreds of lines of MetaStock code.
Yes, it would. Slightly. In fact, if you look back at the charts on page 20 and page 22 of this thread you can see that I used 0.7 trigger levels then. You can see how little difference this made - the plots are all but indistinguishable. The MSI plot itself is of course exactly the same in all cases and quite useable as is. If we want to have the MSI level controlling the colour of the main price chart, we have to define how many levels (colours) we want and how soon (at what level) each is triggered. These are of course completely arbitrary decisions and a matter of preference.
Not this one, Mr N! Overfitting is a potential problem if you are using backtesting to find the "best" parameters to use. The MSI does not use backtesting at all.
The curse of dimensionality is what causes networks with lots of irrelevant inputs to be behave relatively badly. Unsupervised learning algorithms are typically prone to this problem. The MSI has no irrelevant inputs as it uses only a relatively small selection of conventional indicators. It has no feedback loop, does not learn and makes no predictions. It is not trying to tell us where the Index will be tomorrow or next week. It simply and objectively assesses current market strength.
It's not really novel, Mr N. All it does it combine a few common indicators into one. The nifty colour scheme is not an integral part of the MSI and can be applied to any indicator. I have just been playing around to see how simply I could present complex information.
Update of chart on page 20 :-
http://i602.photobucket.com/albums/t...sPB/NZSX76.gif
Phaedrus, any chance of an update to your chart? It seems like most of the indicators have crossed over again.
It seems like the trend must have reversed in the last week I had hoped there might be an update to the chart to confirm this. Also can anyone explain exactly how the market strength indicator that is on Phaedrus' chart is calculated? I can't seem find any definitive info on this particular indicator and it seems very useful.
The broad principles of the Market Strength Indicator are described in these posts :-
"Dow" thread, Page 39, post #578
"AllOrds" thread, Page 1, post #1
"Bottom or Bear Rally?" thread, Page 49, post #723
"Bottom or Bear Rally?" thread, Page 66, post #982
In short, the MSI is a composite indicator, combining signals from multiple conventional technical indicators such as Relative Strength Index, Stochastic oscillator, Moving averages, Directional Movement Indicator, etc, and using "all" time periods for each indicator. The actual calculations involved are complex and utilise hundreds of lines of MetaStock code.
It is my own creation and I certainly find it useful, but note that its signals are no better than many other indicators. Its chief virtue is that you do not need to select an appropriate time period - the indicator itself has no user definable parameters.
All the indicators shown here triggered over 3 weeks ago and the market has risen nicely since then.
http://i602.photobucket.com/albums/t...PB/NZSX922.gif
Thanks, I'll read up a bit more on this indicator you've created. I like the sound of it that it avoids having to choose the correct time periods, this is the bit I've struggled most with when trying to use TA.
It looks like the graph would have got you into the market again pretty close to the bottom, wish I'd found this site a month or two back.
Phaedrus for Super City Mayor - You simplify complicated things
Europe/USA rallied up 1.5% - 2.5% overnight,
Hands up those who thought the NZX50 would rally up over 1 to 1.5% today.
I'm not surprised.
Don't get me wrong ..the NZX50 has been a good performer since the March 2009 bottom.
Then why the poor rise so far today? up 21 to 3239 (+0.6%)... read my latest post Here for my reason.
Hint the 3240 level is the problem
It is good to be fully invested at times like this!
http://i602.photobucket.com/albums/t...sPB/NZSX25.gif
Indeed it is, thank you Phaedrus.
Wil you let us know when the first indicators are out that things aren't looking so rosy?
Phaedrus,any chance of an update of the chart? I think the chart might be heading in the wrong direction now.
Here you are AB. I have upgraded my original "4 level 4 colour" system to the "6 level 8 colour" system that I use elsewhere. As you can see a couple of conventional indicators not have triggered Sell signals..... yet.
http://i602.photobucket.com/albums/t...B/NZZSX315.gif
Thanks, it seems like my trend lines are being broken in my individual stocks too, guess it's time to cut my losses.
Yes I agree Belg. Timber and building material supplies have already been identified as winners. Once the initial shock settles, there will be many opportunities.
Some bounce today. Nikkei and ASX also up.
Yes it will, but only some of these will be products from NZ.
Maybe tomorrow is the day, DS. You can see that every single indicator on the chart below is right on the verge of signalling the end of the 9 month bull market that we have all enjoyed.
This chart also illustrates that, while the MSI is technically interesting, it doesn't tell us anything that conventional indicators can't. Its main advantage is that there is no need to select appropriate indicator parameters to suit each trend/index/stock.
See how well any of the indicators shown here kept you out of the market while it continued to plunge. See how they got you back in again when the market showed signs of increasing strength. The most noteworthy point here, though, is the surprisingly high level of corellation between these 6 very different types of indicator.
http://i602.photobucket.com/albums/t...PB/NZSX620.gif
Call me a newbie (I am!) but when I look at your chart all I see is a probable slight correction before it continues the bull run. Its corrected in a similar fashion (to a lesser degree) three times in the nine months. What makes you think its not a correction again but the end of the bull run?
http://i602.photobucket.com/albums/t...PB/NZSX620.gif
What makes you think that I think it's the end of the bull run?!
I have no opinion either way - these indicators are all there to monitor the Index and no attempt is made to predict where it will go next. Change "probable" to "possible" in your excellent post and I would agree with you 100%.
These indicators provide us with a totally objective assessment of the strength of any trend or retracement. They enable us to ascertain whether the current correction is bigger than the usual and thus of some significance. The chart enables us to filter out market noise and see whether the underlying trend is still intact - or not.
You said this in previous post......"Maybe tomorrow is the day, DS. You can see that every single indicator on the chart below is right on the verge of signalling the end of the 9 month bull market that we have all enjoyed." Looks like an opinion one way to me :-) Semantics maybe..I certainly have no problem with you either having an opinion or a "bob each way". As a relative newcomer I know nothing ,as per Sergeant Schultz from Hogans Heros. I love the charts you put together obviously a lot of experience behind what you do. The problem I have is that the charts only seem to cover the historical data...I'm looking for the the charts for the next month or so. Can you help?
It shouldn't. DS wanted a chart update so I gave him one. The Index is at an interesting point in that many indicators are very close to their trigger levels. As you pointed out, we have been at this stage before and should the Index rise it will simply re-confirm the existing "medium-term" uptrend. If the Index falls, multiple signals would fire marking this as a significant retracement rather than a minor correction in an ongoing uptrend. I really, truly, have no opinion as to which is the more likely. I am NOT indifferent as to the outcome though. For me, it is business as usual in NZ if these signals don't fire. If they do, it won't be.
'Fraid not. I hate to break this to you, but nobody can help you with that sort of request. Charts can be right up to the minute, but can only plot historical data - that's the only sort there is.
I have the same problem with fundamental analysis - it, too, seems to be based on historical data. What I want is next months profit announcements - can you help?
Hi Phaedrus,
Thanks for that. I'm aware that the MSI is an aggregate indicator and generally (by definition) correlates with other indicators, but it is useful having one that does not require tweaking of intervals/sensitivities.
My understanding is that Phaedrus is not offering an opinion because he is just providing graphs, which are representations of empirical data. The conclusions you draw from the data are your own.
Historical data is the only data there is. Future data is conjecture, divination, etc. From the past data we can try to draw conclusions on what is happening now, but projecting into the future is dangerous and unlikely to be accurate if you attempt to do it with any degree of precision - and charts imply a lot of precision. You're unlikely to see more than trendlines from most of the people here, and the trendlines don't predict future data, rather they project extensions of the current trend, and the future data itself, as it occurs, will indicate whether the price is still following this trend.
The market will either go up, down, or stay the same tomorrow (and for all days after). The chart suggests that if the market were to go down in the immediate future, then the market would turn into a bear market (donwtrend), which some will say is a signal to sell the more exposed of your stocks (or all of them), while others will see this as the beginning of an opportunity to accumulate bargains. This is a personal view matter, and opinions on ST are quite divided :p.
The next few days will show whether this is a correction (i.e. May was a point of inflection) or a turning point (May was a local maximum).
That's my view, anyway.
"I have the same problem with fundamental analysis - it, too, seems to be based on historical data. What I want is next months profit announcements - can you help"....I think that's called insider trading isnt it? I suppose what you are doing in examining results, trends and conditions is the only way to beat the odds over a sustained period. Companies can manipulate media releases and lay red herrings out for public consumption but they cannot consistantly hide the underlying results of their efforts or lack thereof. Its all very interesting ...first time in my life where I have actually made money without "doing" or "producing" anything. There is probably some deep philosophical issues in there somewhere but too deep for me.
The charts strategy alone does not concern itself with the workings of the company. The focus is share price activity, which reflects relevant external factors.
It's one method to avoid having to deal with intricate financial reports, and number fudging :).
If you aren't aware of them, I'd suggest looking up the definitions and differences between fundamental and technical analysis, to provide both a starting point and a frame of reference.
Yes, as you say..everyone has their own opinions and methods...personally I'd like to see a little more research into the "divination" system. There must be some companies doing research on time travel out there? Just loved the De Lorean in Back to the Future.
I'm sure with a bit of research you can find a few dozen companies on the internet who will promise you just that - pay them a small amount for their guaranteed 400%/annum return! They never do tell you why they need to sell a system that lays golden ostrich eggs, but we can safely assume it's out of the goodness
of their generous, non-materialistic hearts. Like those people buying gold in malls.
But that would involve learning something new...woof..woof new dog ...tricks. As a founding student at the K.I.S.S. academy of share traders. I follow the wave theory if SP goes up and down in a sequential pattern over a number of years..all I need to know is buy in the trough and sell at the crest. (plus or minus and simplified for dramatic emphasis!!). Number crunching definitely is not my forte. It seems like its not a pre-requisite to know anything about a company. There is profits to be had in every company with share trading ...just a question of finding the right conditions and point in time. I do take your point however...dumb luck can only take you so far so I promise to bone up on some basic stuff for when my luck runs its course!! Thanks.
So should we all be tightening our stops and selling anything not performing, Mr P?
We are still in limbo to a certain extent, AB, in that 3 of my featured indicators have triggered and 3 have not. Nevertheless this is a time for caution in my opinion. Everyone has their own ideas on how to react to a weakening market - devout contrarians see it as a buying opportunity for example! For me, it is a time for profit-taking, tightening stops, exiting weak stocks and building up cash reserves.
I do not believe there is cause for any real concern as yet. The underlying uptrend is still intact and the Index is above its confirmed trendline and above the 200 day moving average.
Hi guys,
Well if you don't know already, Phaedrus has taken a (hopefully not permanent) extended leave from trading and forums, as per: http://www.sharetrader.co.nz/showthr...Phrom-Phaedrus - So go share your thanks and support if you want to
Over the last couple years he's very generously given plenty of info to me and others on how the MSI is derived, and tips on how to recreate it.. And I've come up with something thats a work in progress but is close-ish.
Phaedrus uses 5 indicators to derive the MSI: M.Ave, RSI, RMI, Stoch and DMI - He then performs individual equations for each indicator: +1 if the indicator says buy, -1 if it says sell, repeated using ALL time periods. He then sums up all the results and divides by the number of equations = bam, MSI.
Metastock doesn't have capability for looping or iterators, so I've only managed to do 10 time periods per indicator using different time periods, as opposed to Phaedrus' all (think he's calling an external dll to get it done)... I'm going 5,10,20..100, so this one could be more responsive (for better or worse) if P was using indicators longer than that.
My color coding of the bars is also a work in progress, it is surprisingly complex (depending on what the value was doing the day before and how highly its prioritised).. But I'm getting there and its workable at the moment.
I'm 99.9% sure P has absolutely no problem with me posting this copy so I'll continue to do so every now and again and try to keep improving it - I'm not trying to take over from him as my TA skills wouldn't be 1/10th of his, but I figure he's giving us a pretty good indicator so we might as well use it and keep it alive.
I'm doing this mainly for ASX, but happy to do the NZX as well... Just providing the chart, make of it what you will - Hopefully I'll keep improving and it will an exact replica soon enough (rather than just very close).
http://iforce.co.nz/i/ejs0gy34.yna.jpg
thanks trackers well done.
trackers. Looks pretty good.Thanks for taking the trouble.
appreciate the time and effort, trackers.
Thanks phrom me too trackers....
Thanks for taking up the baton Trackers!! :-)
No worries guys :D
I've changed to bars, and updated for today
http://iforce.co.nz/i/o43t4vht.url.jpg
Slightly off topic but Trackers can I ask how you got Metastock to display different colours on the chart depending on how strong the MSI is?
And is the bottom ticker Bearish/Bullish just displaying the top chart in a different format?
Thanks,
Arctic
PS Thanks for keeping the MSI going and hopefully we haven't lost P forever.
I created a new Expert Advisor to make the bottom ribbon and used the Highlights function to color the charts (10 different formulas to paint different colors based on what zone its in and whether a crossover has occurred (and in which direction)).... You can also use expert advisor to throw up different alerts, sounds, emails; when certain conditions are met upon a chart being opened
Thanks, I'll have a read up on this advisor.
Update.. Will resistance become support? Waiting for a clear break either way would probably be prudent...
Click on pic to zoom
Think I've finally fixed the color coding too
Attachment 3468
It's looking like P's timing is impeccable, stopping just before we start the slide.
Trackers: flicked you a PM, not sure if you actually check your messages here though.
I think we will see a downtrend until the US debt ceiling is lifted. But that won't happen until the day before they have to.
But depends on how the cards are played...
If they lift it totally, we will see quite a rise and quickly
if the Repub's get their way... Uncertainty again, until after the election.
Then then comes another bunch of questions.
They propbably will do it piece meal I think, that way they can leave the plite to the people.
There again..... dont rule out a "forced or managed DEFAULT... in the short term. (kick the can)
It may, just may have some politicial brownie points for the Repub's.
I hope to God they dont default. But I am cash up just in case.
BB
P.S. "what ever"..... Amen !!!
Of course they wont default. This is just the normal game playing by the opposition to garnish some political "favours". At the last minute there will be a "reluctant" cave in for the "good of the country". All very predictable and happens regularly. They are in so deep there is no other option but to raise debt ceiling. I dont see a sustained rally since most investors know what will happen. May be a short rally then back to normal. (IMHO)!!
Yes there will be a "cave in", I'm about 95% sure of that.
But the Q. still remains, what sort of "cave in", what shape will it take.
And back to Belg's question. what gonna happen after Aug 2.
How are the markets going to react running up too... and after ???
How have posters here positioning themselves right now.
BB
If USA gets a rating drop it will lose its elite AAA ranking held presently by 16 Countries in the world and drop down to AA+ to join NZ.....The world will end!!!!
http://en.wikipedia.org/wiki/List_of..._credit_rating
Announcement delayed...surprise surprise
like all good soap operas
Goverment start defaulting after 2 Aug so I suggest they should start with defaulting Public servant salaries first with top down priority, starting with the President then Senators then Govt officials.....
Belg..
As an elder person..
The word Tallyho !!.. Was only used with the another word.. Pounce !!..
Would you care to mention your target ??..
Belgarion says..
Nervous times but probably not for much later.
Agree..
The nervous time will be late 2012.. Early 2013..
What Party is in control.... Who is POTUS ??...
Thus .. Just enough time to get in :-)) And get out :-)))))..
IMHO..
Yeah, who cares about ratings agencies. Buffett rates USA as "quadruple A", which is all that matters.
Now we know where the top was - for those of us who are cashed up - who is game enough to predict the bottom? I feel that the European mess will continue to plague the markets in the short term. I believe NZ's position is very strong as a primary producer but lets not kid ourselves - most of our investment in the markets depends on overseas money and if that's not there, the numbers keep going down. I have no Idea where the bottom is but I am prepared to wait.
Next Tuesday, with a low of 2837 :eek2::D:p
Come on Lizard. What time?
...next week 2840ish. And then ranging 2800-3000 til last week of October when we start climbing again.
Man who picks bottoms gets smelly finger!:D
Mark Weldon live chat started 12.15pm
http://www.nzherald.co.nz/business/n...ectid=10743939
Very saddening indeed belg....
Not only in PPL. If those folk could, then maybe they should do some homework.
NZ company's in general are in very good shape right now and the divvy ar4e looking good
BB
Ps when talking to a friend....
Me " how did you get on the the 87 crash"
Him " never lost a penny, Coz I never sold a share, coz I did my homework"
The fall of the NZ $ is the major piece of good news coming out this "crisis" and is the necessary requirement for the NZ economy to get its growth rate up towrds 6% to 9%.
Long may it fall.
On the other hand, the NZ $ being as high as it is, is the main obstacle to Alan Bollard increasing interest rates.
And congratulations to Paula Bennett weeding out so many unemployment fraudsters after 1 year - under Labour they'd still be happily ripping us off!
Sorry folks but the dollar is back up with the market. Got out of TEL at 262 and back in with great difficulty this morning at 250. Does anyone know the dates of the next dividend? I thought they were to go back to half-yearly from quarterly dividends. bought a few SKC to try and make a few bob out of the nervous gambler who will be around at the world cup.
The inmates were let out of their asylum again last night so the NZ$ is down again today as the money flees back to the bottomless pit in the USA...(???).
There's a feel of common sense in the NZ market today even though it is down....
Markets calming down?
Stranger Danger I still have some shares that I bought before the 1987 share market crash
well done, i've been following your adventures with glee! I've been doing a bit of the same, but not on the scale that I would have preferred....
this was more than I can cope with. Sold out at the top then jumped in at what I thought was the bottom only to find that it wasn't, then off to sulk and plant a few trees on the hill. Back for dinner and the news that we are up again. The numbers tell me that I am up 0.3%. on the price I paid to buy back in. Latest bottle of rum is part Queensland Gold, part Jamaican and part rum barrel chips soaked in ethanol for a few months. It's up well more than 0.3%.
SKC & FRE - both with good result and increased divvy.
Hope you are right about SKC. Bought a couple of thousand yesterday partly because they are one of the top five in my picking equation and partly because of the fact that when I last sold out of them a couple of years ago, I missed a bundle of sixty odd shares and I honestly did not know how to dispose of them. Anyone else have a simple answer to what to do with a handful of shares too small to trade?
Craic you just did It, Buy an econimic amount & add your odd ones when you sell
In Australia they have a facility for you to donate small parcels of shares to charity without inuring brokerage. I am not aware of any equivalent in New Zealand.
http://www.sharegiftaustralia.org.au
Boop boop de do
Marilyn
Craic, I had 247 TEN shares and out of the blue (by snail mail) was made an offer by an outfit called Zero Commission.
It worked out better than online selling, and infinitely better than through a broker...
Are you expecting SKC to rise cos of bored RWC visitors? How long would you expect to hold...
Cheers.
scamper/craic,
The SKC presentation 8th August is an excellent read.Go to NZX web page and bring up the pdf.Sorry I do not know how to do the link.The capital expenditure should produce good both short term and long term profits.The conventition centre right next door is going to be very positive.management's long term plans will add good growth . I am most impressed with management.
....thats pretty unique...in fact I find it quite gobsmacking unique....you make it sound simple ....but I think you are onto something...here....selling/buying amongest a "trusting closed community"....scary to....mmmmmm
Not too bad a result from FRE and future prospects look OK too. The market's not ovely impressed though - SP down 1c.
I forecast an increased divvy but was hoping for a bit more than .25% - still it's better than nothing.
Now waiting for positive results from SKC and SKT.
Sometimes it pays to keep it simple....just to see what is really happening....It seems the fundamentals are good but the large increased "perceived" future risk has damaged the technicals to the point that it has caused a cyclic change.
Did any of you realise that the NZX50 is sitting on a technical support ledge overlooking a cliff face on Friday.
Many were oblivious to that fact as it was not in the media and were distracted with good the good fundamentals ... MHI TEL TUA results etc.
Global markets were down overnight so Monday is not looking too good for the NZX50.
There is a good chance a dead cat bounce is in progress of being formed ..if this remains true expect the downward last formation phase to complete with the break of the 3095 panic bottom support.
ERROR ON CHART.. The NZX50 closed at 3268 on Friday NOT 3236 .....it dropped to 3236 intraday Friday. ...So it not on a edge of a cliff..if it loses another 1% it will be (edit 10,55am Monday 22nd August
Disc: Now over 80% cash
Phaedrus MSI...When RED strictly no buying..
http://www.imageurlhost.com/images/r...dr731duwts.png
Thanks for the chart hoop. It isn't looking good at the moment and the chart makes it easy to see.
Yes, nice chart Hoop. If anyone does need cheering up, try a little GEL (NZAX), there's a share that is pointing in the right direction, with the guarantee of a nice press release at the end of the week, strongly increasing interest on the TSX for a safety measure.
Apologies guys ...I discovered an error on my chart...I've alerted it by editing my charted post a moment ago.
ERROR ON CHART.. The NZX50 closed at 3268 on Friday NOT 3236
The NZX50 has reached a technical point this morning. It retested the 3330//3335 resistance area and its first attempt this morning has failed.
The simple chart shows the rebound (Dead cat bounce??) pause in the steep fall (minicrash) which is overall bearish.
There is conjunction of the down trend line and the 3333 resistance level in the near future... extra buying pressure will be needed to rise above this combined impediment.
http://www.imageurlhost.com/images/x...24bjc13shs.png
Thanks. I could probably look at the herald each day as well.
I was more after the views of an experienced investor/trader who has done his own research and is prepared to state at what price he would personally value those high yielding shares.
Particularly in light of the current state of the world financial markets With falling sharemarkets some of those yields may improve over the next few months due to price changes.
A small glow worm in a dark Global Equity Cavern....
.... Caution....wait and see
Disc 80% cash..... half of it is in US$
http://www.imageurlhost.com/images/g...sj06mmunw6.png
Do not know where the index is going,but I know the lovely increased divies are going into my bank.Last night POT,EBO and NPX.
Positive signs for NZ50....
Attachment 3641
Belg
www.youtube.com/watch?v=bkgGHqbhjs4
Investopedia says after heavy selling and sharp decline in price (panic selling and moving into a safer haven) ... I say total capitulation is when the last punter left standing decides equities are a waste of time and sells up --- (to real investors) ---- this a long drawn out process and is usually seen when the market PE is down to 5-7
Hoops real definition will possibly be like this
Is Phaedrus posting again? I miss P's input.